Norwegian fund Invests in Danish wind

The Norges Bank Investment Management agreed to invest 900 million euros, around $670 million, in Copenhagen Infrastructure Partners (CIP).

Mie Holstad, Chief Investment Officer for Real Estate and Renewable Infrastructure at Norges Bank Investment Management, commented on the rationale for the major investment:

“This agreement will allow us to invest in renewable energy development projects, and the investment is a good addition to the portfolio we are building. We will get more investment opportunities and exposure across the value chain, as well as the chance to continue building expertise and experience in new markets and technologies.”

She added regarding the choice of Copenhagen Infrastructure Partners:

“We have long worked to map out investment risk and non-financial risk and are satisfied with selecting CIP as a partner. CIP is an experienced industrial partner with a good reputation. Our review showed that CIP has generated solid returns for investors in an open and responsible manner.”

The deal represents a massive capital injection into CIP’s renewable energy infrastructure projects, which include offshore wind farms across Europe. For the Norwegian sovereign wealth fund, it allows entry into an attractive growth sector while furthering its sustainability goals.

The translation was written by an AI system, though the original text was authored by a human. Read the original article here